Which of the Following Is Possible When the Market Fails

question 31

Multiple Choice

Which of the following is possible when the market fails?

• A)The mix of goods and services is on the production possibilities curve.
• B)It is impossible for government intervention to improve the mix of goods and services.
• C)The mix of goods and services is at the correct point on the production possibilities curve.
• D)The mix of goods and services is the optimal mix.

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Definitions:

Collective Bargaining

The process by which labor unions negotiate with employers on behalf of their members regarding terms of employment, such as wages and work conditions.

Management

The process of planning, organizing, leading, and controlling resources to achieve organizational goals.

Labor Unions

Organizations that represent the collective interests of workers in negotiations with employers over wages, benefits, and working conditions.

Career Management

The ongoing process of setting personal career objectives and planning strategies to achieve them.